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You place $5,000 in a bank account that earns an annual rate of 4.25%. if the interest is compounded quarterly, how much money will you have at the end of 5 years, assuming you …

You place $5,000 in a bank account that earns an annual rate of 4.25%. if the interest is compounded quarterly, how much money will you have at the end of 5 years, assuming you …
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You place $5,000 in a bank account that earns an annual rate of 4.25%. if the interest is compounded quarterly, how much money will you have at the end of 5 years, assuming you neither deposit nor withdraw any money in this time?

User Carmel
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1 Answer

5 votes
I believe the answer is $10,882.35
User Bibu
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